Harrah’s plans IPO

Casino operator Harrah’s Entertainment is to sell up to $575m of stock in an initial public offering, alongside the planned sale of $710m by hedge fund Paulson & Co.

The company was taken private in 2008 by TPG Capital and Apollo Management for $27.8bn. Paulson recently joined Apollo and TPG in a debt-for-equity swap, exchanging $1.12bn of debt for up to 15.6% of the company's equity.